USD/JPY Forecast March 17, 2014, Technical Analysis

USD/JPY pair fell during the session on Friday, but as you can see is above the uptrend line that is in our opinion somewhat major, and above the 101 handle. With that, we feel that the market could produce a buying opportunity in this general vicinity, but we do not have the supportive candle in order to start doing that. Until that happens, we will remain on the sidelines, but we do have a longer-term upward bias in this market as far as we can tell, and therefore we are only looking for buying opportunities presently.